Angel networks as a business start-up financing option in South Africa
- Authors: Sibanda, Zenzo
- Date: 2011
- Subjects: Angels (Investors) -- South Africa Small business -- Finance -- South Africa New business enterprises -- Finance -- South Africa Venture capital -- South Africa Microfinance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1164 , http://hdl.handle.net/10962/d1002780
- Description: The following study is about business angels financing small business start-ups. It explores the aspect of starting up an entrepreneurial venture in which the entrepreneur seeks to secure start-up finance from lenders, raising the various issues that are known to characterise this engagement between the entrepreneur and the lender. Using the phenomenological paradigm, the study seeks to determine the awareness of small scale financing by entrepreneurs in South Africa, to determine the most commonly used source of start-up business funding in South Africa, to assess the extent to which business angel financing could be used to finance businesses in South Africa and to determine the factors impacting the use of business angel financing in South Africa. From these objectives, the study will also seek to determine the extent to which business angel networks could facilitate the financing of business start-ups. Small businesses invariably come up in different policy spheres as the main avenues to social and economic construction across national and regional lines. The importance of a successful business start up to a growing economy should not be underestimated. In line with this is the particular factor of gaining access to start up capital, which continues to emerge as a leading contributor to the success or failure of business start ups. Studies continue to verify that the most common challenge faced by most emerging entrepreneurs is start-up capital, either in the lack of this capital, the unfavourable conditions surrounding its availability, the lack of assets to serve as collateral for its use or the ambiguous flow of crucial information between lenders and providers of finance in the funding relationship (Abor and Biekpe, 2006: 69;Hernandez-Trillo, Pagan and Paxton, 2005: 435, ISPESE, 2005: 7, CDE, 2004: 5; Musengi 2003: 11). Roger Sorheim (2005: 179) refers to business angels as private individuals who offer risk capital to unlisted companies that are struggling to obtain start up capital to finance their business ideas. Business angels are further defined as high net-worth bearers of substantial private capital who predominantly invest in the early stage of high risk high potential return business ventures with a positive further growth potential. Business angel finance is typically a ‘once-off’ early stage form of small firm financing compared to the more frequent later stage venture capitalist funding. Studies show that business angels represent an underutilised wealth creation mechanism when it comes to small firm start-ups as most business angels contribute expertise in addition to finance to the start-ups they get involved in. This brings valuable business insight to the commercialisation of a good business idea. The business angel network exposes a range of potentially viable business prospects to willing investors by facilitating the flow of information about entrepreneurs and their businesses, thereby eliminating ambiguity, information asymmetry and transaction costs (Aernoudt and Erikson, 2002: 178; Van Osnabrugge and Robinson, 2000:374; Macht, 2006:1; Ehlrich, De Noble, Moore and Weaver, 1994:70; Sorheim, 2005:179). To achieve a holistic approach to a phenomenon which appears to be relatively new in South African business circles, the study will follow a qualitative approach in which two categories of populations will be used, one of small business operators and the other of business angels in South Africa. In the study, 20 small business operators and five business angels in Grahamstown will be approached using the convenience and snowballing sampling methods respectively. Face-to-face semi-structured interviews will be used as a data collection method and content analysis will be used as a data analysis tool (Collis and Hussey, 2003:156, Driver, Wood, Segal and Herrington, 2001:32, National Small Business Act ). There has been very limited research on business angels in the South African context, therefore the study would significantly contribute in entrepreneurship, government and small business development circles as it brings about attention to what the researcher predicts is an underutilised business start-up financing option.
- Full Text:
- Date Issued: 2011
- Authors: Sibanda, Zenzo
- Date: 2011
- Subjects: Angels (Investors) -- South Africa Small business -- Finance -- South Africa New business enterprises -- Finance -- South Africa Venture capital -- South Africa Microfinance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1164 , http://hdl.handle.net/10962/d1002780
- Description: The following study is about business angels financing small business start-ups. It explores the aspect of starting up an entrepreneurial venture in which the entrepreneur seeks to secure start-up finance from lenders, raising the various issues that are known to characterise this engagement between the entrepreneur and the lender. Using the phenomenological paradigm, the study seeks to determine the awareness of small scale financing by entrepreneurs in South Africa, to determine the most commonly used source of start-up business funding in South Africa, to assess the extent to which business angel financing could be used to finance businesses in South Africa and to determine the factors impacting the use of business angel financing in South Africa. From these objectives, the study will also seek to determine the extent to which business angel networks could facilitate the financing of business start-ups. Small businesses invariably come up in different policy spheres as the main avenues to social and economic construction across national and regional lines. The importance of a successful business start up to a growing economy should not be underestimated. In line with this is the particular factor of gaining access to start up capital, which continues to emerge as a leading contributor to the success or failure of business start ups. Studies continue to verify that the most common challenge faced by most emerging entrepreneurs is start-up capital, either in the lack of this capital, the unfavourable conditions surrounding its availability, the lack of assets to serve as collateral for its use or the ambiguous flow of crucial information between lenders and providers of finance in the funding relationship (Abor and Biekpe, 2006: 69;Hernandez-Trillo, Pagan and Paxton, 2005: 435, ISPESE, 2005: 7, CDE, 2004: 5; Musengi 2003: 11). Roger Sorheim (2005: 179) refers to business angels as private individuals who offer risk capital to unlisted companies that are struggling to obtain start up capital to finance their business ideas. Business angels are further defined as high net-worth bearers of substantial private capital who predominantly invest in the early stage of high risk high potential return business ventures with a positive further growth potential. Business angel finance is typically a ‘once-off’ early stage form of small firm financing compared to the more frequent later stage venture capitalist funding. Studies show that business angels represent an underutilised wealth creation mechanism when it comes to small firm start-ups as most business angels contribute expertise in addition to finance to the start-ups they get involved in. This brings valuable business insight to the commercialisation of a good business idea. The business angel network exposes a range of potentially viable business prospects to willing investors by facilitating the flow of information about entrepreneurs and their businesses, thereby eliminating ambiguity, information asymmetry and transaction costs (Aernoudt and Erikson, 2002: 178; Van Osnabrugge and Robinson, 2000:374; Macht, 2006:1; Ehlrich, De Noble, Moore and Weaver, 1994:70; Sorheim, 2005:179). To achieve a holistic approach to a phenomenon which appears to be relatively new in South African business circles, the study will follow a qualitative approach in which two categories of populations will be used, one of small business operators and the other of business angels in South Africa. In the study, 20 small business operators and five business angels in Grahamstown will be approached using the convenience and snowballing sampling methods respectively. Face-to-face semi-structured interviews will be used as a data collection method and content analysis will be used as a data analysis tool (Collis and Hussey, 2003:156, Driver, Wood, Segal and Herrington, 2001:32, National Small Business Act ). There has been very limited research on business angels in the South African context, therefore the study would significantly contribute in entrepreneurship, government and small business development circles as it brings about attention to what the researcher predicts is an underutilised business start-up financing option.
- Full Text:
- Date Issued: 2011
Consumer perceptions of private label brands: an Eastern Cape university-aged analysis
- Authors: Mpofu, Bukhosi Dumoluhle
- Date: 2011
- Subjects: House brands -- South Africa -- Eastern Cape Young consumers -- South Africa -- Eastern Cape Consumer behavior -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1167 , http://hdl.handle.net/10962/d1002783
- Description: This research investigates the consumer perceptions of private label brands amongst the university aged consumers from selected Eastern Cape universities. The research also aimed to ascertain whether or not generation Y consumers are aware of the existence of private labels, whether price, quality, advertising, packaging, reference groups and demographic variables influenced generation Y purchasing behavior of private label brands. To achieve these objectives, the research made use of the simple random technique to gather the primary data via the use of an online structured questionnaire. The sample population selected where the students in the Eastern Cape Province Universities (Rhodes and Nelson Mandela Metropolitan Universities) who reside off-campus. The assumption was that students who reside off-campus are more aware of private labels as they carry out shopping more than those that reside on campus and generally would have more disposable income and the reason that two different universities have been chosen is to provide a broad base of student opinions, covering varying cultural and income backgrounds, thus allowing for unbiased, valuable research. After pre-tests were conducted the questionnaire was made available online to easy the distribution of the questionnaire and allow for a greater response rate. Descriptive and inferential statistics where used to analyze the results of the questionnaire. The results showed that consumers are generally aware of private label brands and have at least seen them being advertised. Furthermore, the results showed that consumers purchase groceries based on price, quality and convenience of location of the grocery stores .The results indicate that Generation Y consumers are indeed a significant part of the consumer population and that they represent a confident, self reliant, optimistic and positive generation and are verbally and visually more sophisticated, creating a whole new language through digital media and that Generation Y consumers are generally aware of the existence of private labels. The results also indicate that Generation Y consumers strongly agreed that they purchase groceries based on price and quality, meaning price and quality are very influential when purchasing groceries and that the packaging of, generally, all private label brands was not attractive hence a conclusion was made that packaging of private labeled products does not influence Generation Y’s purchasing behaviour of private labels.
- Full Text:
- Date Issued: 2011
- Authors: Mpofu, Bukhosi Dumoluhle
- Date: 2011
- Subjects: House brands -- South Africa -- Eastern Cape Young consumers -- South Africa -- Eastern Cape Consumer behavior -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1167 , http://hdl.handle.net/10962/d1002783
- Description: This research investigates the consumer perceptions of private label brands amongst the university aged consumers from selected Eastern Cape universities. The research also aimed to ascertain whether or not generation Y consumers are aware of the existence of private labels, whether price, quality, advertising, packaging, reference groups and demographic variables influenced generation Y purchasing behavior of private label brands. To achieve these objectives, the research made use of the simple random technique to gather the primary data via the use of an online structured questionnaire. The sample population selected where the students in the Eastern Cape Province Universities (Rhodes and Nelson Mandela Metropolitan Universities) who reside off-campus. The assumption was that students who reside off-campus are more aware of private labels as they carry out shopping more than those that reside on campus and generally would have more disposable income and the reason that two different universities have been chosen is to provide a broad base of student opinions, covering varying cultural and income backgrounds, thus allowing for unbiased, valuable research. After pre-tests were conducted the questionnaire was made available online to easy the distribution of the questionnaire and allow for a greater response rate. Descriptive and inferential statistics where used to analyze the results of the questionnaire. The results showed that consumers are generally aware of private label brands and have at least seen them being advertised. Furthermore, the results showed that consumers purchase groceries based on price, quality and convenience of location of the grocery stores .The results indicate that Generation Y consumers are indeed a significant part of the consumer population and that they represent a confident, self reliant, optimistic and positive generation and are verbally and visually more sophisticated, creating a whole new language through digital media and that Generation Y consumers are generally aware of the existence of private labels. The results also indicate that Generation Y consumers strongly agreed that they purchase groceries based on price and quality, meaning price and quality are very influential when purchasing groceries and that the packaging of, generally, all private label brands was not attractive hence a conclusion was made that packaging of private labeled products does not influence Generation Y’s purchasing behaviour of private labels.
- Full Text:
- Date Issued: 2011
The strategic management of intellectual capital : a case study in the banking and financial services sector in Zambia
- Authors: Banda, Japhet Mathias
- Date: 2011
- Subjects: Intellectual capital -- Management , Intellectual capital -- Zambia , Banks and banking -- Zambia , Financial services industry -- Management -- Zambia
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1178 , http://hdl.handle.net/10962/d1002795 , Intellectual capital -- Management , Intellectual capital -- Zambia , Banks and banking -- Zambia , Financial services industry -- Management -- Zambia
- Description: Fundamental changes in the global economy are changing the basis of organisational competitive advantage. The challenge in attaining a competitive advantage is characterised by factors such as increased competition, market volatility, geographically dispersed operations, customer awareness, raising workforce diversity and stringent regulatory regimes. These factors have driven, and in turn have been driven by, an increasing complexity of products, services and the processes that create value, resulting in changes in the structural and functional dimensions of the organisation. Business executives and academics recognise the shift in value creating assets from the traditional land, labour and capital to intangible assets such as knowledge and information becoming the most important resources an organisation can muster.The combination and integration of intangible assets such as human resources, structural and relational resources has been grouped under the umbrella of intellectual capital. This study comprises of a single descriptive case study analysis to ascertain how intellectual capital is managed strategically to gain a competitive advantage in an organisation in the banking and financial services sector in Zambia. Based on document review and semi-structured interviews, this thesis investigated the extent to which an organisation in the banking and financial services sector in Zambia leveraged intellectual capital to gain competitive advantage. In this study it was found that there is a low level appreciation of the intellectual capital phenomenon as a strategic management tool in the participating organisation. However, the organisation has adopted aspects of intellectual capital and has implemented them successfully accounting for the organisation‘s competitive edge in the market.
- Full Text:
- Date Issued: 2011
- Authors: Banda, Japhet Mathias
- Date: 2011
- Subjects: Intellectual capital -- Management , Intellectual capital -- Zambia , Banks and banking -- Zambia , Financial services industry -- Management -- Zambia
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1178 , http://hdl.handle.net/10962/d1002795 , Intellectual capital -- Management , Intellectual capital -- Zambia , Banks and banking -- Zambia , Financial services industry -- Management -- Zambia
- Description: Fundamental changes in the global economy are changing the basis of organisational competitive advantage. The challenge in attaining a competitive advantage is characterised by factors such as increased competition, market volatility, geographically dispersed operations, customer awareness, raising workforce diversity and stringent regulatory regimes. These factors have driven, and in turn have been driven by, an increasing complexity of products, services and the processes that create value, resulting in changes in the structural and functional dimensions of the organisation. Business executives and academics recognise the shift in value creating assets from the traditional land, labour and capital to intangible assets such as knowledge and information becoming the most important resources an organisation can muster.The combination and integration of intangible assets such as human resources, structural and relational resources has been grouped under the umbrella of intellectual capital. This study comprises of a single descriptive case study analysis to ascertain how intellectual capital is managed strategically to gain a competitive advantage in an organisation in the banking and financial services sector in Zambia. Based on document review and semi-structured interviews, this thesis investigated the extent to which an organisation in the banking and financial services sector in Zambia leveraged intellectual capital to gain competitive advantage. In this study it was found that there is a low level appreciation of the intellectual capital phenomenon as a strategic management tool in the participating organisation. However, the organisation has adopted aspects of intellectual capital and has implemented them successfully accounting for the organisation‘s competitive edge in the market.
- Full Text:
- Date Issued: 2011
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